Berger Montague Files Securities Fraud Class Action Against Enphase Energy

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National law firm Berger Montague has filed a class action lawsuit against Enphase Energy, Inc. on behalf of investors who purchased the company's securities between April 22, 2025 and October 28, 2025. The lawsuit alleges that Enphase overstated its ability to manage channel inventory and misrepresented the impact of the expiration of the Residential Clean Energy Credit, leading to inflated financial outlook and growth expectations.

Why it matters

This case highlights the legal risks facing renewable energy companies as they navigate changing regulatory and market conditions. Investors will be watching closely to see if Enphase is held accountable for allegedly misleading statements about its business performance.

The details

The lawsuit claims that Enphase, a provider of residential solar and battery storage technology, made false and misleading statements about its ability to manage inventory levels and mitigate the impact of the expiration of a key tax credit. This allegedly led to overstated financial guidance and growth projections. The alleged corrective disclosure occurred on October 28, 2025, when Enphase warned of weaker fourth quarter battery shipments and the adverse impact of the 25D Credit expiration on 2026 revenues, causing a 15% drop in the stock price.

• The class period covers April 22, 2025 through October 28, 2025.
• Investors have until April 20, 2026 to seek lead plaintiff status in the class action lawsuit.

What’s next

The judge will decide by April 20, 2026 whether to allow the class action lawsuit to proceed with a lead plaintiff representing the class of Enphase investors.